The Study On The Influence Of Charitable Donation On Corporate Performance

With the development of social productive forces and the progress of human social civilization,enterprises,as one of the main participants in social economic activities,are increasingly called to fulfill social and moral responsibility while pursuing their economic efficiency and improving their profitability.The charitable donation,one of the important ways to assume the enterprises'social responsibility and participate in the public welfare undertakings,undergoes a rapid development in our country.Besides,its influence on the Corporate performance of the enterprise has become one of the hotspots of scholars' analysis and research.Although a unified conclusion of research has not yet been reached so far,most scholars believe that charitable donation still has a positive impact on corporate business performance.In this paper,based on the previous research results and on the theories of corporate social responsibility,stakeholder,strategic charity and resource dependence,the factors affecting corporate 's charitable donation are analyzed and the relationship between charitable donation and corporate business performance,and the difference impact of ownership differences and industry differences on corporate business performance from the perspective of corporates' business status and governance mechanism are systematically expounded.Then,research hypothesis,such as“the greater the continuous charitable donations are,the more significant the business performance is","the effect of the continuous charitable donation on the business performance of the state-owned enterprises is more significant than that of the private ones",“Compared with the enterprises that have non-direct contact with consumers,sustainable charitable donation behavior has a more significant impact on Corporate performance of the enterprises that have direct contact with consumers" has been put forward.Excel2007 and Stata statistical software are used to conduct descriptive statistics,correlation and regression analysis of the data of 392 A listed companies in Shanghai stock market from 2011 to 2015.And the results were explained theoretically.Through the analysis of the research results,this paper puts forward that enterprises should establish and improve the long-term mechanism to ensure the enthusiasm,persistence and stability of charitable donation.Then,the exposure rate of corporate donation should be increased and a good atmosphere for public opinion should be created.Finally,relevant laws and regulations should be improved and incentive policies should be formulated to promote the rapid development of enterprise charity donation.In general,China's corporate charitable donation research field is still in the initial stage.With part of the Shanghai Stock Exchange A shares listed companies that have conducted charitable donation for five consecutive years as the research object,this paper carries out the preliminary study on the effect of charitable donation on corporate performance.All in all,the impact of long-term continuous donation on the corporate performance of enterprises,the impact of charitable donations on the corporate performance of non-listed companies and other listed companies are worthy of further discussion.